Skip to main content

Is Queen Elizabeth II Broke?


  

With the report carried by Eonline to go by then it seems the world's most powerful Queen seems to be low in funds. The Queen of England is down to her last $1.6m in reserves after royal overspending. She was once the richest woman in the world (in the 80s) and in 2010 Forbes mag estimated her net worth at around $450 million and now she's broke? hmm!! Read the report below..



From Eonline 
Perhaps Queen Elizabeth II could learn something from her thrifty granddaughter-in-law Kate Middleton. The 87-year-old monarch has been overspending the royal family's famous fortune, according to a report published by the Commons Public Accounts Committee on Monday, Jan. 27.
Following her courtiers' advice, Her Majesty the Queen's reserve fund has fallen from £35 million ($58 million) in 2001 to just £1 million ($1.6 million) in 2014. The report states the royal family is "spending above their means and dipping into the reserves...the balance now stands at an all-time low." Continue...
The report also reveals that a number of palaces are in "dangerous or deteriorating" conditions. Forty percent of them, in fact, are "below acceptable standards." It's not exactly new information, as Queen Elizabeth II knows that there's an $82 million backlog in repairs due to tightened government funding.

Taxpayers fund the royal palaces in Britain, comprised of more than 300 buildings. In 2013, the public spent about £31 million ($51 million) renovating and operating the facilities. The report urged the treasury to "get a grip" and help the royal family to prevent "further damage and deterioration."

 According to the report, royal staff members have been forced to catch rain in buckets to protect art and antiquities in some locations. Queen Elizabeth II's "antiquated" boilers are more than 60 years old.

 "The Queen has not been served well by the Household and by the Treasury," said Margaret Hodge, the labor chairman of the Public Accounts Committee. "We got the impression that they just haven't tried to make greater savings. Here we are, we're all in it together, but they are failing to eek better value for the Queen. They are dipping into their reserves in a way that just isn't sensible."

 "If you look at the Tower of London and its visitor numbers it makes you think that there's potential there. Have they done their darndest to maximize value for money?" Hodge wondered.

 The royal household has pledged to introduce a 10-year maintenance plan to resolve the backlog. It has also pledged to increase the size of its reserve fund. Married to Prince Philip since 1947, Queen Elizabeth II has four children and eight grandchildren—including Prince William & Prince Harry.

Comments

Post a Comment

Popular posts from this blog

10 Important Cybersecurity Practices for your Business

  10 Important Cybersecurity Practices for your Business 1. EDUCATION  It’s much easier to prevent a hack than it is to recover from a hack. Once your company’s sensitive data is stolen through a ransomware attack, recovering it is often a long and arduous process. Teaching employees about basic security, personal cybersecurity, and the prevalence of cyber threats goes a long way in stopping ransomware attacks before they can really do damage. Your employees should understand that they might be targets of malicious actors, eager to exploit any entry they can find in your company. The average cost of a cyberattack is 3.86 million and the cumulative total for global cybercrime is expected to cost $6 trillion. If you don’t pay to train your employees about cybersecurity best practices eventually you may end up paying more in the long run. High quality and free trainings for your employees are available from several government resources including Department of Homeland S...
Post a Comment
Read more
Top 20 Most Asked Third Party Risk Questions for Vendors  These questions help organizations assess the overall risk posed by third-party vendors, covering critical areas like data protection, regulatory compliance, and incident response. Here’s a list of the Top 20 Most Asked Third-Party Risk Management (TPRM) Questions for Vendors in TPRM questionnaires: 1. What types of sensitive data do you handle for our organization? Vendors should clarify the types of data they collect, process, or store, such as personal information, financial data, or intellectual property. 2. How do you protect data at rest and in transit? This question probes into the encryption methods, protocols, and security controls in place for safeguarding data during storage and transmission. 3. Do you have a formal Information Security Program in place? Vendors should describe their overall cybersecurity framework, including policies, procedures, and governance. 4. How do you manage user access to our data and s...
Post a Comment
Read more

Nearly 500,000 workers are needed in cybersecurity roles around the country

The push to work from home during the coronavirus pandemic is straining cybersecurity professionals around the country tasked with ensuring workers are able to not only work efficiently from remote locations — but to do so safely. This rapid shift is a tall order for an industry that was already in need of skilled professionals long before the pandemic took hold.  Cybersecurity workers were taken off some or all of their typical security duties to assist with other IT-related tasks, including equipping mobile workforces, according to an April survey from global nonprofit (ISC)2, the largest association of certified cybersecurity professionals. The survey of 256 cyber pros found nearly half were re-tasked and that a quarter said cybersecurity incidents increased since the transition to remote work, with some seeing as many as double the number of incidents. Separate data from another nonprofit cybersecurity group, the Information Systems Security Association, found a 63% increase in...
Post a Comment
Read more